“Spending” Isn’t Consumption
March 14, 2012 at 12:43 PM EDT
Sloppy use of terminology leads to sloppy analysis. One of the things that really drives me crazy is when people equate “spending” with consumption. Why does this matter? Consider whether you’ve ever heard the something like the following: “Around the middle of the decade Americans went on an orgy of spending on new homes; it’s [...]